Pink diamond sold for more than $83 million


FILE - A Wednesday, Sept. 25, 2013 photo from files showing an unidentified Sotheby's employee displaying "The Pink Star" diamond weighing 59.6 carat, during a preview at Sotheby's, in Geneva, Switzerland. Wednesday, September 25, 2013. The enormous diamond has sold for $83.425 million (61.8 million euro) at an auction, Wednesday night, Nov. 13, 2013, far surpassing its expected price. Sotheby's says the sale of the vivid and flawless 59.60-carat pink diamond is the highest price ever paid for a gemstone at auction. (AP Photo/Keystone, Martial Trezzini, File) | Zoom

GENEVA (AP) - An enormous diamond known as "The Pink Star" sold for more than $83 million at auction Wednesday night, far surpassing its expected price.

Sotheby's says the sale the vivid and flawless 59.60-carat pink diamond is the highest price ever paid for a gemstone at auction.

Prior to the sale to the successful bidder, representing an anonymous buyer, the diamond was estimated to fetch more than $60 million. The bidding opened above $52 million, and it closed with the playing of the "Pink Panther" movie's theme music.

The exact sale price of "The Pink Star" was 76.325 million Swiss francs, or $83.425 million. It had been introduced prior to the bidding as "one of the most remarkable gems ever to appear at auction."

The diamond is graded as a Type IIa, a rarity for a pink diamond, and it took Steinmetz Diamonds two years to cut it to form from a 132.5-carat rough diamond.

It was first shown publicly in May 2003 as the "Steinmetz Pink," then sold privately for the first time in 2007 when it was renamed "The Pink Star."

The sale in Geneva came a day after the largest fancy vivid orange diamond ever sold at auction went for $35.5 million at a Christie's auction.

The auctions at Geneva's lakeside hotels draw well-heeled buyers from around the world seeking expensive jewels, artwork, wine and watches.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • Pot Machines
    Marijuana vending machines might be coming to Washington state
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know a student who stands out in the classroom, school and community?
Help make their dreams come true by nominating them for a $1,000 scholarship and a chance to earn a $10,000 Grand Prize. Brought to you by KIRO Radio and Comprehensive Wealth Management.

Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.